90M DOGE Transferred In One Go As Dogecoin Trades Lower

Over 90 million Dogecoin (CRYPTO: DOGE) were moved from multiple addresses to an unknown wallet in a single transaction earlier on Friday. 

What Happened: The transaction processed on Thursday moved over 90 million Dogecoin from an unknown address to an unknown wallet for a total transfer value of over $7.1 million as of press time, according to transaction tracking service Clank.

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This transaction was preceded by a 300 million Dogecoin transaction on Monday, which saw coins being moved from multiple addresses to an unknown wallet.

Dogecoin's on-chain activity levels have yet to return to usual levels after showing a higher than normal level of activity for an extended period due to market excitement and turmoil caused by Tesla Inc. TSLA CEO Elon Musk's attempt to acquire social media giant Twitter TWTR and the recent collapse of smart contract cryptocurrency Terra LUNA/USD and its TerraUSD UST/USD stablecoin.

DOGE Price Action: As of press time, Dogecoin is trading at $0.08309 after seeing its price increase by 4.4% over the last 24 hours.